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Lng Prices

Russia Could Fend off US LNG Plans for Europe

By Oleg Vukmanovic and Henning Gloystein, Reuters As Russia tightened its grip on Ukraine's Crimea region this month, U.S. and European Union officials were urging the Obama Administration to speed up approvals of more liquefied natural gas (LNG) export terminals. Yet Russian exporter Gazprom's ability to swamp European natural gas markets with supply while depressing prices will make it difficult for as-yet unavailable U.S. supplies to displace Russian gas in Europe. The EU is keen to diversify away from Russian gas imports, a stance hardened by Gazprom's decision to switch off supply to Ukraine during a pricing dispute in 2009 which curtailed supplies to EU member states, as well. Yet U.S. LNG, exports of which are expected to ramp up beginning next year, are not a silver bullet in supply diversification for Europe. State-controlled Gazprom sells most of its gas to Europe in long-term deals that are partly linked to the price of oil. It has recently agreed major price reductions with most of its European customers, including Germany's E.ON and RWE, France's GDF Suez and Italy's ENI and Edison. The move has helped defend its leading position in Europe, including from potential U.S. shipments, and industry sources say that Russia may agree to further discounts. U.S. exports to Europe would barely break even at current spot market prices, as operating costs, fees and shipping rates would push the price of U.S. cargoes above European spot levels.


Classification Leaders Weigh in on Marine Propulsion

James Watson, President & COO, Americas Division, ABS

When talk turns to marine propulsion and the host of surrounding topics – emissions, efficiency, fuel consumption – we turn to class for answers. While there are just two questions, the ensuing answers from leaders at ABS, BV, ClassNK, DNV GL, LR and RINA are voluminous & enlightening.   • Paal Johansen, DNV GL    The stricter environmental regulations and rising fuel costs lead to technology development in design, size, propulsion and operations


LNG Sabine Pass Terminal Contract Signed

Sabine Pass Terminal: Image credit Cheniere Partners

Cheniere Energy Partners' subsidiary Sabine Pass Liquefaction signs a LNG sale and purchase agreement with Total Gas & Power North America. Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana.  The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).


Jensen to Design LNG Bunker Barges

Image: Jensen Marine

Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations. Currently no LNG bunkering barges are in operation in American waterways, and these vessels will be among the first to be developed and built


LNG Spot Prices Drop; Demand Dips from Brazil, Japan

By Oleg Vukmanovic and Jacob Gronholt-Pedersen,  Reuters Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals. Prices for April delivery dropped to around $18.10 per million British thermal units (mmBtu) from $19.60 per mmBtu last week. Petrobras, a major Atlantic Basin LNG buyer in recent weeks


Dynagas LNG Completes Acquisition of Arctic Aurora

Dynagas LNG Partners LP

  Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd., Dynagas Partners’ sponsor, for a purchase price of $235.0 million. On June 19, 2014 Dynagas Partners entered into a new $340 million senior secured revolving credit facility which was used to refinance $214


EU Monitors Market

No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea


Korea's Daewoo To Grab Hold of LNG Ship Market

Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300


LNG Gains Traction as Alternative Fuel

Triality VLCC illustration_web.tif

As Cargo, Fuel or both; LNG is emerging as the clear and clean way forward for the maritime industry.   •    In the Beginning         The use of LNG as a marine fuel is not new. Vessels trading cryogenic LNG have burned boil-off natural gas in steam boilers for many years as a simple solution to maintaining necessary temperatures and pressures within cargo spaces


Teekay to Acquire Up to Two LNG Carriers

Teekay LNG Partners L.P. announced that it has agreed to acquire a 155,900 cubic meter (cbm) liquefied natural gas (LNG) carrier newbuilding from Awilco LNG ASA, a Norwegian-based owner and operator of LNG carriers. The vessel, which is currently under construction by Daewoo Shipbuilding & Marine Engineering Co., Ltd., (DSME) of South Korea, is expected to deliver in the third quarter of 2013, and subsequent to delivery from DSME to Awilco


SHIPPINGInsight 2014 Agenda Announced

SI 2013 web.jpg

Annual Conference, Exhibition and Networking Event Brings Together Shipowners and Technology Companies to Address Practical Solutions for Efficient Operations The organizers of SHIPPINGInsight 2014 report that the agenda has been finalized and all speaking positions and sponsorships have been


Wilhelmsen Secures Inert Gas System Orders

Breakthrough order in Japanese shipbuilding market sees largest ever capacity Maritime Protection IG units delivered for leading domestic owners. Wilhelmsen Technical Solutions (WTS) has secured multiple orders to supply its Maritime Protection Dry Inert Gas Generator (DIGG) systems for


ClassNK Holds LNG Fuel Technologies Seminars

Photo courtesy of ClassNK

ClassNk held LNG-Fuelled Vessel Technologies seminars in Shanghai and Singapore on 22 July and 24, July 2014, respectively. With the industry looking to adopt cleaner fuels to meet new environmental regulations as well as future economic growth


LNG to Acquire Bear Head LNG Project in Canada for US$11 mi

LNG to Acquire Bear Head LNG Project in Eastern Canada -

Liquefied Natural Gas Limited today announced that it has significantly expanded its presence in the North American Liquefied NaturalGas (LNG) sector by signing an agreement to acquire 100% of Bear Head LNG Corporation (BHLC)from a subsidiary of Anadarko Petroleum Corporation (Anadarko) for


LR to Support LNG Bunkering in Portsmouth

Aerial view of Portsmouth and ferry terminals (Photo: LR)

Lloyd’s Register (LR) is working with British port to develop operational procedures and technical standards required for safe LNG bunkering operations. LR has commenced a project to identify the technical specifications and develop operating procedures for safe LNG bunkering in


HHI to Build Two LNGCs for GasLog

Gaztransport & Technigaz (GTT) announced the notification of two Liquefied Natural Gas Carriers (LNGCs) which will be built by the Korean shipbuilder Hyundai Heavy Industries (HHI).  GasLog, a Monaco-based shipping company, has ordered two large-scale LNGCs from the shipbuilder


FERC Accepts Kinder Morgan's Application

Proposed  Magnolia LNG Project

Liquefied Natural Gas Limited (LNGL) informs that the US   Federal Energy Regulatory Commission (FERC) has accepted Kinder Morgan  Louisiana Pipeline LLC’s (KMLP) application pursuant&


Global Ocean Trade: Latest Shipbuilding Orders

Shipyard scene: File photo

A relatively steady week in the newbuilding market in terms of volume of ordering remarks Clarkson Hellas in their latest S&P Weekly Bulletin, most for LNG carriers. Dry bulk carriers In Dry, Sungdong Shipbuilding have signed contracts with Teh-Hu (Hong Kong) for one firm plus one option 180


LR to Class BC Ferries' LNG-fueled Newbuilds

Photo courtesy of BC Ferries

BC Ferries has awarded Remontowa Shipbuilding S.A. of Gdansk, Poland contracts totaling $165 million to build three new Intermediate Class LNG-fueled passenger ferries, to be classed by Lloyd’s Register (LR). The new intermediate class vessels will be the first vessels in BC


Shell suspends work on Canadian gas for transport facility

Royal Dutch Shell has suspended development of a liquefaction unit at Canada's Jumping Pound facility, which was to be used to develop the emerging gas for transport market. Gas liquefaction is increasingly being produced for use in transportation of large road vehicles, in trains


Teekay Announces Public Offering

Teekay LNG Partners L.P. has announced  that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units


Port of Antwerp to Set Up LNG Bunkering

Antwerp Port_bunkering LNG_trucktoship

  It would be possible for barges to fill up with LNG at a permanent bunkering station in the port of Antwerp by the beginning of 2016. Truck-to-ship bunkering is already possible, but by setting up a bunkering station the port of Antwerp aims to make LNG permanently available.


Bureau Veritas Kick-starts LNG Bunkering

Jean-Francois Segretain

International classification society Bureau Veritas has published a comprehensive set of guidelines on LNG Bunkering, with the aim of speeding adoption of LNG as a ship’s fuel by kick-starting the LNG bunker chain. Jean-Francois Segretain, Technical Director, Marine and Offshore Division


EXXONMOBIL Files Export Application for Alaska LNG Project

Logo.jpg

  In another important step forward for the Alaska LNG project, an application to export liquefied natural gas (LNG) was submitted to the U.S. Department of Energy by EXXONMobil. The export application requests authorization to export up to 20 million metric tons per year of LNG for a


Wärtsilä's JV with CSSC to Expands Engines Range

  Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co






 
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